BNP Paribas

Multi-billion euro tobacco bonds are rare, but this week has produced two in as many days. They nearly came on the same day, but Imperial Tobacco decided discretion was the better part of valour yesterday when Philip Morris International got into the market ahead of it, before 8am London time.

Casino Guichard-Perrachon, the French supermarket group, launched its first bond of the year on Friday, after announcing strong full year results on Tuesday last week.

Investors tired of the virtuous tone of Unibail’s green bond last week had a pleasant antidote today: a €1.75bn two-trancher from Philip Morris International.

BP received a warm welcome on its return to the Swiss franc bond market after a five year absence on Tuesday. Demand proved plentiful for the UK oil company's Sfr500m dual tranche issue, even though falling interest rates left its yield looking meagre.

Chinese genomics company BGI plans a $400m IPO before the end of the year and Malaysian Icon Offshore mandates three banks for $137m debut in the first half.

BP Capital Markets has announced guidance on a five year offshore renminbi transaction, returning to the dim sum market for the third time since its first bond in 2011.

The Brazil sovereign has mandated for fixed income investor meetings, having seen Odebrecht Oil & Gas (OOG) re-open the LatAm dollar bond market in emphatic style on Thursday. The Odebrecht deal broke a new issue drought from the region that had lasted since January 31.

Commodities companies are keeping loans bankers busy in western Europe, as UK broker ED&F Man joined Amsterdam Commodities and Trafigura in the market.

Darty Financements made its bond debut in Europe's near-empty high yield market this week.

First Quantum woos new banks — DBK signs deal

Corporate bond issuance is set to get busier again in Europe next week, bankers say, with a drive-by deal also possible on Friday.

Covered bond spreads are so tight that there is almost no scope for secondary performance, bankers have warned. “Core markets are in a zone of low oxygen,” one said on Tuesday, as KBC Bank priced a deal within a few basis points of Landesbank Hessen-Thüringen and Deutsche Kreditbank.